Published: 2025-03-25T14:19:25.000Z
Chart USD/JPY Update: Sharp reversal from 151.00/25
Senior Technical Strategist
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The anticipated break above 150.00 has been pushed back from resistance at the 151.00 break level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 152.00 | * | congestion | S1 | 149.00 | congestion | ||
| R3 | 151.25 | ** | 38.2% ret of Jan-Mar fall | S2 | 148.00 | * | congestion | |
| R2 | 151.00 | * | break level | S3 | 147.00 | ** | 61.8% ret of Sep-Jan rally | |
| R1 | 150.00 | ** | congestion | S4 | 146.50 | * | break level |
Asterisk denotes strength of level
14:00 GMT - The anticipated break above 150.00 has been pushed back from resistance at the 151.00 break level, as overbought intraday studies unwind, with prices once again trading just below 150.00. Overbought daily stochastics are also flattening, suggesting potential for a move down to congestion support at 149.00. But the rising daily Tension Indicator and flattening oversold weekly stochastics should limit any initial tests in renewed consolidation. Meanwhile, a close above 151.00 and the 151.25 Fibonacci retracement is needed to turn sentiment positive and extend March gains towards 152.00.